In it’s third quarter letter to investors, Tesla Motors announced that they are pushing back the start of production of their falcon-winged Model X crossover again, this time until the third quarter of 2015. This is the third time that production has been delayed for the Model X, which Elon Musk originally promised for 2013. That was subsequently pushed back to this year, then to late this year and now delayed again. Tesla put a good face on the delay, characterizing it as “a few months”, and attributing the later production start to more extensive validation testing, wanting to “delight customers” when the Model X does start deliveries.
Tag: tesla model x
Although Tesla reported a profit of $17 million on $713 million in revenue, their financials were reported using non-GAAP (Generally Accepted Accounting Principles) figures. Which means that my current checking account, according to non-GAAP figures, is probably somewhere in the high seven figures.
At the opening of his company’s London store, Tesla Motors CEO Elon Musk had some comments about the company’s upcoming falcon-winged crossover, the Model X. He said that it will offered only in an all wheel drive configuration that features electric motors in both the front and back of the car, and that it’s starting price will be slightly more than that of the Model S, which starts at $60,000.
The Model X’s price will be very similar to the Model S. It might be slightly higher, but… I can’t imagine that it will be… It’s probably going to be a slightly higher starting price because the Model X will only be offered as all-wheel drive. It will be dual motor, all-wheel drive.
[The relevant remarks start at ~24:00 of the video]
An article in the New York Times Dealbook blog claims that Tesla is using their customer deposits on upcoming models as a major source of cash to finance operations.
The Tesla Roadster is one of the most enjoyable vehicles I’ve ever driven – the problem is, Tesla hasn’t done anything since then, and is releasing new models before their long-awaited Model S sedan is even on sale.